Strength in numbers or guilt by association? Intragroup effects of female chief executive announcements

We predict that the media reports on female CEOs as a coherent group, whereas male CEOs are treated as individuals by the media. We also suggest that the resulting investors' perceptions of group entitativity of female-led firms may not only influence the succession event–performance relationsh...

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Bibliographic Details
Published in:Strategic management journal 2013-12, Vol.34 (12), p.1488-1501
Main Authors: DIXON-FOWLER, HEATHER R., ELLSTRAND, ALAN E., JOHNSON, JONATHAN L.
Format: Article
Language:English
Subjects:
Appointments & personnel changes
Business management
Business structures
Chief executive officers
Corporate strategies
entitativity
executive succession
Female employees
female executives
Females
Financial management
Group dynamics
Intragroup relations
Investors
Media coverage
media effects
Personality psychology
Social psychology
Stereotypes
Strategic management
Studies
Women
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Summary:We predict that the media reports on female CEOs as a coherent group, whereas male CEOs are treated as individuals by the media. We also suggest that the resulting investors' perceptions of group entitativity of female-led firms may not only influence the succession event–performance relationship at the focal firm, but may also have a significant effect on the value of other femaleled companies. Results of a text analysis and an event study of appointments of female CEOs to Fortune 1000 firms provide support for these predictions.
ISSN:0143-2095
1097-0266
DOI:10.1002/smj.2076